Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $40.04, but opened at $38.45. Revolution Medicines shares last traded at $38.91, with a volume of 965,773 shares.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Stifel Nicolaus cut their price target on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Oppenheimer lifted their target price on Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Guggenheim reiterated a "buy" rating and issued a $80.00 target price on shares of Revolution Medicines in a report on Wednesday. Wedbush restated an "outperform" rating and issued a $73.00 price target (up from $67.00) on shares of Revolution Medicines in a report on Tuesday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $57.00 price objective on shares of Revolution Medicines in a research report on Tuesday. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $67.58.
Check Out Our Latest Stock Report on Revolution Medicines
Revolution Medicines Trading Down 1.2%
The business's 50-day simple moving average is $39.61 and its 200-day simple moving average is $40.06. The company has a market capitalization of $6.90 billion, a PE ratio of -9.24 and a beta of 1.10.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter in the prior year, the firm earned ($0.70) EPS. Sell-side analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.
Institutional Trading of Revolution Medicines
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Boxer Capital Management LLC purchased a new stake in Revolution Medicines in the 4th quarter worth approximately $187,184,000. Janus Henderson Group PLC lifted its stake in shares of Revolution Medicines by 54.5% in the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock valued at $414,777,000 after purchasing an additional 3,346,755 shares during the period. Lunate Capital Ltd purchased a new stake in Revolution Medicines during the first quarter worth $77,658,000. Vanguard Group Inc. grew its position in Revolution Medicines by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock valued at $747,799,000 after buying an additional 2,185,082 shares during the period. Finally, Farallon Capital Management LLC increased its holdings in Revolution Medicines by 17.1% in the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock valued at $579,498,000 after buying an additional 1,931,000 shares in the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.
About Revolution Medicines
(
Get Free Report)
Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.
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